NATIONWIDE ACCIDENT REPAIR SERVICES PLC – Pre Close Trading Update

Nationwide, the largest dedicated provider of automotive crash repair services in the UK released the following update on trading for the first half of the financial year, prior to entering its close period.

Sales and profit before tax for the first six months of the year to 30 June 2011 are expected to be ahead of the same period in 2010, in line with management expectations.

These results have been supported by Nationwide’s diversification strategy, now in its second year, whereby the Group is seeking to add incremental revenues from the non-insurance sector while continuing to focus on developing its core market of motor insurers. Sales in these newer non-insurance markets of fleet and retail are progressing well, aided by additional investment in resources and, in particular, the launch of the Group’s enhanced mobile repair services last summer. 

With the encouraging performance in the first half, the Board believes that Nationwide remains well-positioned to achieve its growth ambitions for the full year. 

Half year results are expected to be announced towards the end of September 2011.